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Home My WebLink About0999 A~~amuunt~ di,buruJ hy L.rndrr unJer this paragraph 7.hall t?crume a~ditiunel Jebt uf &~rrow~r .c~urcd hy tFn. Scrur,ty ~ M~wnknt. Unlea~ &xruwer ancl Lc;ixkr agr« tu ~Kher term. of peynx:nt, thl`u :~muunt, sh:~ll bear inter~.t f~um ttx: Jate uf di~bur,xnknt ut thc Note rate and shal! be pay:~ble, with i~tere~t, up~m nc~tire f~om l.rnder tc? &~rrower reyuesting paym~nt. If Lender required m~~rtgage inwrsnce as a curxiitiun uf making the kwn +ecurcd by this,Secyrity In~trument. Burru~~~r .hall pa~~ ttx: prcmiunu required to maintain tt~ insursnce in effect until surh tinx: as tlx reyuir~:nx:nt lorkt~~ i~.,1~?rarxx te i in acrur~~nrc H~ith Borrower's aixl Lencier's written agreement or applic~ble law. a•.' . ~1~~ 8. Inspection. L.ender or its ~ent may make rea~onable entries upun ~rxi in~pectiuns af tlx: Prupeny. L~:nder shall gi~~ &~rruw~ r nutice at the ti~~~ of or priar to an inspection specifying reau~nable cause for the inspecti~~n. 9. Candemnation. The prcx-eti,~cis of any awani or claim for damages, dir~~t ur conseyuential, in runrx.~tiun with sny rurxi~:mn;itiun ur uther taking of any p~rt ~~f the Property, ur for conveyance in lieu of co~demnntion, are hereb~• assigned and shall be paid to l.endrr. In the event of a rotal taking of the Pruperty, the prucet.•cis shall he applied to the sums kcured by this Secur:ty Instrument, whether or not then due, with any exceSs paid to Bormwer. !n the event of a partial taking oF the Property: unless Borrower :~nd L~;nder aherwi~: agree in writing, the sums sec:ureci by this Security In~trunxnt shall be reJucecl by the anxwnt of the procecds multiplieci by the fallowing fraction: (a) the total amount uf the sums secured immedia:ely before the taking. Jivided by (b) the fuir mdrket ~alue oi the Property immediately before the taking. Any balarxe shall be paid to &~rrower. If the Property is abandoned by Bc~rrower, or if, after n~~tire by Lc:rxier to Borruwer that the cotulcmnor offcn tu makc an aH~ard ur settle a claim for damages. Borrower fails to respund ta Lender within 30 days after the date thc notice i. given, L.ender i. authorized to collect and apply the proceeds, at its option, either to restoration or repair of thc Property ur t~~ the sums secureJ hy this Securiry Instrument, whether or not then due. Unless Lender and Borrower otherwise agree in writing, any application of pnxeeds to principal shall not extend ur postpone the due date af the monthly payments referred to m paragrapns i anu ~ange the amaunt of such payments. 10. Borrower Not Reieased; Forbearance By Lender Not a Waiver. Extension of th~, time for payment or maiitication uf ;~n~ortization of the sums secured by this Security Instrument granted by Lender to :~ny wccessor in interest of Borrower shall ncx uperatz to ~elease the liability of the original Borrower ar Borrower's successors in interest. Lender shall not be required to commence proceedings against any successor in interest or refuse to extend time for payment or,otherwisc: modify amortizatiun of the sums secureci ny this Security Inswment by reason of any demand made by tt?e original Borrower or Borrower's succes~ors in interest. Any forbearance by Lender in exercising any right or remedy shall not be a waiver of or preclude the exercise of any right or remedy. 11. Successers and Assigns Bound; Joint apd Se~•eral Liability; Co-signers. The covenants and agreements of this Security Instrument shall birxl and benefit the successors and aSSigns of Lender and Borrower, subje~.-t to the provisions of paragraph 17. &~ROwer's ravenants and agreements shall be joint and several. Any Borro~er who co-signs this Security Instrument but dces not execute the Note: (a) is co-signing this Security Instrument only to mortgage, grant and convey that Borrower's interest in the Property under ~ the terms of this Security Instrument; (b) is not personally abligated to pay the sums u:cured by this Securiry Instrument; and (c) :~grees that Lender and any other Borrower may agree to extend, modify, forbear or make any accommaiations with regard to the terms of this Security Instrument or the Note without that Borrower's consent. 12. Loan Charges. [f the loan secured by this Security Instrument is subject to a law which sets maximum loan charges, arxi that law is finally interpreted so ti~a~ the interest or other loan charges collected or to be collected in connecti~~n with the loan exceed the permitted limits, then: (a) any such loan charge shall be reduced by the amount necessary to reduce the rharge to the permitted limit; and (b) any sums already collected from Borrower which exceeded permitted limits will be refunded to Borrower. Lender may choose to make this refund by reducing the principal owed under the Note ur by making a direct payment to Borrower. If a refund reduces principal. the reduction will be treated as a partial prepayment without any prepayment charge under the Note. 13. [.egislation Affecting Lender's Rights. If e~ctment or expiration of applicable laws has the effect of rendering any provision uf the Note or this Security Instrument unenforceable according to its terms. Lender, at its optian, may reyuire immediate payment in full of all sums secured by this Security Instrument and may invoke any remedies permitted by paragraph 19. !f Lender exercises this option, t.ender shall take the steps specified in the second paragraph of paragraph 17. 14. Notices. Any notice to Borrower pro~ided for in this Security lnstrumentihall be given by delivering it or by mailing it by first class mail unless applicable law requires use of another merhod. The notice shal! be directed to the Property Addre~.c or any ' ~>ther address Borrower designates by notice to Lender. Any notice to Lender shalt b~ given by first class mait to Lender's address i ,tated herein or any other address Lender designates by notice to Borrower. Any notice provided for in this Securiry Instrument shafl ; be deemed to have been given to Borrower or L.ender when given as provided in this paragraph. ~ 15. Governing Law; Severability. This Security [nstrument shall be governed by federal law and the law• of the juri,diction ~n which the Property is located. In the event that any provision or clause of this Security lnstrument or the N~xe conflict~ with applicable ~ law, such conflict shall not affeet other provision~ of this Security Instrument or the Note which can be given effect withcwt the runflicting provision. To this end the provisions of this Security Instrument and the Note are declared to be severable. 16. Borrower's Copy. Borrower shall be given one' conformed copy of the Note and of this Securiry Instrument. 17. Transfer of the Property or a Beneficial Interesi in Borcow~er. (f all or any part of the Property or any interest in it i, sold or tranferred (or if a beneficial interest in Borrower is sold or transferred arxi Borrower is ncx a natural peru?n) without Lender'ti prior written consent. Lender may, at its option, require immediate payment in full of all sums secured by this Security Instrument. However, this option shall not be exercised by Lender if exercise is prohihited by federal law as of the date of this Security Instrument. If Lender exercises this option. Lender shall give Borrower notice of acceteration. The notice shall provide a period of not les~ than 30 days fr~m the date the notice is delivered or mailed within which Borrower must pay all sums serured by this Security Instrument. If Borrower Ea6!s to pay these sums prior to the expiration of this period. Lender may invoke any remedies permitted ' by this Security Instrument without further notice or demand on Borrower. 18. Borrower's Right to Reinstate. If Borrower meets certain conditions, Borrower shall have the right to have enforcement of this Security Instrument discontinued at any time prior to the earlier of: (a) 5 days (or such other period as applicable law may ,pecify for reinstatement) before sale of the Property pursuant to any power of sale contained in this Security Instrument; ur (b) entry of a judgment enforcing this Security Instrument. Those conditions are that Borrower: (a) pays Lender all sums which then would k~e due under this Security Instrument and the Note had no accelerati~n occurred: (b) cures any default of any other covenants or agreements; (c) pays all expenses incurred in enforcing this Security [nstrument, ir~cluding: but not limited to, reasonable attorneys' tees: and (d) takes such action as L.ender may reasonably require to assure that the lien of this Security Instrument. Lender's rights in the Property and Borrower's obligation to pay the sums secu~ed by this Security Instrument shall continue unchanged. Upon reinstatement by Borrower, this Security Instrument and the obligationc secureci hereby shall remain fully effective as if no acceleration had occurred. However, this right to reinstate shall not appiy in the case of acceleration under paragraphs 13 or 17. ~~~x 481 ~~GE ~2